Goal Setting
At the start of any journey is it is important to know the destination, if for no other reason than to answer the fighting children in the back seat asking “are we there yet?”
When starting on a financial journey it is important to know if ones intentions are eliminating debt, increasing savings, buying a home, investing for retirement, or saving for a child’s education. Financial goals need to be personal by their very nature since each person’s personal finances are bound to be different.
While I would tell people that I am interested in all of the above stated financial goals my near term goals are related to debt elimination. As is usually the case with people staring their financial journey that there is a need to minimize debt payments before they can seriously consider taking their next steps.
Although my near term goal is to eliminate debt I am always looking towards the next goal. I continue to save for retirement using my 401k and have a 5 year goal to upgrade to a larger, newer home. Since I am foreword looking and projecting my next moves I can put my financial decisions into context and identify if they are aligned with my current and long term goals.
I would be interested in reader’s comments regarding short and long term goals. I strongly believe that identifying a road map is the surest method of ensuring success regardless of the goals.At the start of any journey is it is important to know the destination, if for know other reason than to answer the fighting children in the back seat asking “are we there yet?”
When starting on a financial journey it is important to know if ones intentions are eliminating debt, increasing savings, buying a home, investing for retirement, or saving for a child’s education. Financial goals need to be personal by their very nature since each person’s personal finances are bound to be different.
While I would tell people that I am interested in all of the above stated financial goals my near term goals are related to debt elimination. As is usually the case with people staring their financial journey that there is a need to minimize debt payments before they can seriously consider taking their next steps.
Although my near term goal is to eliminate debt I am always looking towards the next goal. I continue to save for retirement using my 401k and have a 5 year goal to upgrade to a larger, newer home. Since I am foreword looking and projecting my next moves I can put my financial decisions into context and identify if they are aligned with my current and long term goals.
I would be interested in reader’s comments regarding short and long term goals. I strongly believe that identifying a road map is the surest method of ensuring success regardless of the goals.
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